Marketing: encompasses transfer of ownership and creation of place, time and possession utilities enabling distribution and exchange.

Marketing denotes bringing goods and services to market and includes buying and selling; it creates place, time and possession utilities. Core functions are: transfer of ownership (buying, selling); physical supply (transportation, storage); and facilitating activities (standardization and grading, financing, risk taking, market research). The concept extends beyond mere movement of finished goods or intermediary activity and combines ownership transfer with physical distribution.

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